Instruction 4.7
A lottery will have the following payoffs possible with their associated probabilities.
$$\begin{array} { | l | l | }
\hline \text { Payoff } & \text { Probsbility } \
\hline \$ 2.00 & 0.0500 \
\hline \$ 25.00 & 0.0100 \
\hline \$ 100.00 & 0.0050 \
\hline \$ 500.00 & 0.0010 \
\hline \$ 5,000.00 & 0.0005 \
\hline \$ 10.000 .00 & 0.0001 \
\hline
\end{array}$$ You buy a single ticket.
-Referring to Instruction 4.7,the probability that you win any money is_____________ .

Question

Instruction 4.7
A lottery will have the following payoffs possible with their associated probabilities.
 $$\begin{array} { | l | l | } 
\hline \text { Payoff } & \text { Probsbility } \
\hline \$ 2.00 & 0.0500 \
\hline \$ 25.00 & 0.0100 \
\hline \$ 100.00 & 0.0050 \
\hline \$ 500.00 & 0.0010 \
\hline \$ 5,000.00 & 0.0005 \
\hline \$ 10.000 .00 & 0.0001 \
\hline
\end{array}$$ You buy a single ticket.
-Referring to Instruction 4.7,the probability that you win any money is_____________ .

Quizplus · Accepted Answer

The Answer of Instruction 4.7
A lottery will have the following payoffs possible with their associated probabilities.
 $$\begin{array} { | l | l | } 
\hline \text { Payoff } & \text { Probsbility } \
\hline \$ 2.00 & 0.0500 \
\hline \$ 25.00 & 0.0100 \
\hline \$ 100.00 & 0.0050 \
\hline \$ 500.00 & 0.0010 \
\hline \$ 5,000.00 & 0.0005 \
\hline \$ 10.000 .00 & 0.0001 \
\hline
\end{array}$$ You buy a single ticket.
-Referring to Instruction 4.7,the probability that you win any money is_____________ .

Instruction 4 You Buy a Single Ticket